the most important thing during an accumulation is to not get overextended in case of a prolonged downturn, like we've had over the last year.
i've consistently said i have no debt, have real estate, and have a self owned highly profitable business that allows me the diversification and peace of mind to not get shaken out. this bull mkt is vicious and has already shaken off most of its original bulls including guys like tvbcof (to whatever degree he will admit).
i've consistently said i have no debt, have real estate, and have a self owned highly profitable business that allows me the diversification and peace of mind to not get shaken out. this bull mkt is vicious and has already shaken off most of its original bulls including guys like tvbcof (to whatever degree he will admit).
Oh brother. You're not the only one with a solid business, and you're not the only one who made a killing. I didn't start as early as you. Most of the people here didn't. We had to make our nuts on a compressed time frame. Starting back in 2011, a chimp could have become a millionaire, let alone a human. None of this changes the fact that you've been wrong the past year, big time, just like those who bought into PMs at their pinnacle. Keep that ego in check, cypher
+1. Well stated. Best not to let one's head balloon to much about this.
Cyph does have a fair point that a goodly number of early adopters did sell out to quickly. The guy who Thermos took over the forum from (cirius I think his name was) and who was one of Satoshi's very early collaborators claims to have sold out when he could afford an apartment. He could have bought an entire city if he had not. Another guy got desperate and hungry and sold out only to buy back in later (~elwar I believe, and I think he is a contemporary of Cyph and me.) At any rate, it took a lot more of something to sit on one's stash than it did to develop one in the early days. Of course anyone could be telling tales about their legacy (of fail) and there would be good reason to do so. But still, I'm sure that cypherdoc is right here in all to many cases.
The people who really have my respect are those like Gavin and Garzik who gave away Bitcoin as a means of jump-starting things.